France Calls for Push into Euro Stablecoins
French Finance Minister Roland Lescure has called for greater development of euro-linked stablecoins and urged banks to explore tokenised deposits.
Speaking at a crypto conference in Paris, he said the volume of euro-linked stablecoins remains significantly lower than dollar-denominated ones, describing the gap as “unsatisfactory”.
Stablecoins are cryptocurrencies designed to maintain a stable value and are typically backed by traditional currencies. Banks globally are experimenting with the technology, with several institutions also conducting joint trials.
Lescure said Europe should strengthen its position in this area. He pointed to an initiative by 10 European banks, including ING, UniCredit and BNP Paribas, which plan to launch a euro-linked stablecoin in the second half of 2026. “This is what we need and what we want,” he said.
The world’s largest stablecoin, Tether, has more than $185bn in circulation, while Société Générale’s euro stablecoin stands at about €107m ($116m).